Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait's PIC posts KD 353 mln net profit for FY 2013/14  Join our daily free Newsletter

MENAFN - Arab Times - 30/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Wait city april 29 (kuna): kuwait petrochemical industries company (pic) tuesday posted kd 353 million in net profits for the fiscal year 2013/2014 ending on 31 march. this is a remarkable leap compared with the expected profits and that of the previous year estimated at kd 197 million and kd 229 million respectively pic's chief executive officer asaad al-saad said in a press conference. he went on to say that this leap has placed pic at the top of the most profit-making non-oil affiliates of the kuwait petroleum corporation. he attributed the profits growth to the company's outcome increase reduction of the operating costs and surge of petrochemical products prices. he pointed out that pic continued to apply many cost reducing bids including six sigma which resulted in successfully implementing 420 projects making cumulative financial surplus estimated at 140 million over seven years. ammonia and urea production jumped to 660000 metric tons and 1.3 million metric ton respectively compared with 599000 metric tons and 875000 metric ton a year earlier al-saad unveiled.



kuwait petroleum corporation (kpc) the state-owned entity responsible for kuwait's hydrocarbon interests throughout the world has signed a contract with indonesia's pt. yosomulyo jajag to supply the indonesian market with petroleum coke. kpc fuel oil sales chief sheikh salah al-sabah said in a press statement that the agreement was concluded during his meeting with a visiting delegation of pt. yosomulyo jajag which is a leading petroleum coke supplier in indonesia.



the kuwait stock exchange company announces that the board of directors of the al-themar international holding co. met on monday april 28 2014 and approved the annual financial statements of the company for the year ended march 31 2014 as follows:

particulars    31/3/14    31/3/2013

profit (loss) (kd)    5745439    1392341

eps (fils)    5.68    1.38

total current assets:    13398204     11753683

total assets:    189660317    156900423

total current liabilities:    60384223    60373422

total liabilities:    60554338    60505040

total shareholders' equity:    129105979    96395383

the board of directors to distribute cash dividend of 5% of the nominal value of shares i.e. 5 fils per share for the year ended 31.3.2014

note that these recommendations are subject to approval by the general assembly and the competent authorities.



the kuwait stock exchange announces that the board of directors of aqar real estate investments co. met on monday april 28 2014 and approved the interim financial statements of the company for the period ended 31/3/2014 as follows:

particulars for 3 months ended 31/3/2014 and 3 months ended 31/3/2013

profit (kd)    151436    152553

eps (fils)    0.66    0.67

total current assets:    9871184    6432526

total assets:    26646835    24412618

total current liabilities:    1574178    454768

total liabilities:    1601246    468008

total shareholders' equity:     25044625    23918251


 


Arab Times




  MENA News Headlines
 Oct 25 2014 - Qatar's inflation rate to hit 5.5 percentMENAFN
(MENAFN) Qatar's inflation rate in 2014 is expected to touch 5.5 percent due to steady rise in housing rentals, according to the finding of a research conducted by Standard Chartered, The Peninsula ...

 Oct 25 2014 - Flydubai launches two flights to TanzaniaMENAFN
(MENAFN) Dubai-based flydubai's inaugural flights to Dar es Salaam and Zanzibar touched down in Tanzania. The new routes further underline flydubai's rapid expansion in Africa, which has seen the ...

 Oct 25 2014 - UAE air cargo to grow 4.1 percent in 5 yearsMENAFN
(MENAFN) The International Air Transport Association (IATA) Airline Industry Forecast 2014-2018 shows that international freight volumes are expected to increase at a compound annual growth rate ...

 Oct 25 2014 - Qatar- QSL: El Jaish face Al Gharafa todayThe Peninsula
(MENAFN - The Peninsula) Third-placed El Jaish will seek to narrow the gap between them and two higher placed rivals - Lekhwiya and Al Sadd € when they take on Al Gharafa in the ninth round match of ...

 Oct 25 2014 - Somalia- Mogadishu port on development pathThe Peninsula
(MENAFN - The Peninsula) Camels are prepared for export at the loading dock at the seaport in Mogadishu. The Somali government's grand vision for Mogadishu port under its new Turkish managers sees ...

 Oct 25 2014 - Saudi Shias protest death sentencesThe Peninsula
(MENAFN - The Peninsula) More than 100 people protested in eastern Saudi Arabia yesterday to oppose death sentences against a Shia religious leader and seven others convicted after earlier ...

 Oct 25 2014 - Palestine defies US, issues statehood ultimatumThe Peninsula
(MENAFN - The Peninsula) Palestine's chief peace negotiator has laid out in the clearest terms yet plans to establish an independent Palestinian state within three years, even if it means ignoring ...

 Oct 25 2014 - Police kill six militants ahead of key Tunisian pollThe Peninsula
(MENAFN - The Peninsula) Tunisian police killed six suspected militants, five of them women, in a raid on a suburban house yesterday after a 28-hour standoff, fanning tensions ahead of a landmark ...

 Oct 25 2014 - US looking into possible chlorine gas attack in Iraq: KerryThe Peninsula
(MENAFN - The Peninsula) The United States is looking into reports that Islamic State fighters used chlorine gas against Iraqi security forces, US Secretary of State John Kerry said yesterday.Kerry, ...

 Oct 25 2014 - Qatar- Ooredoo marathon offers QR1m prizesThe Peninsula
(MENAFN - The Peninsula) Registration for Ooredoo Doha Marathon 2015 is open, as the company begins preparations to ensure its biggest event yet on January 9.It will provide an opportunity to meet ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help